Question: 1 a: Which helps a monopolist identify its profit-maximizing quantity, the intersection of the MC and MR curves, or the demand curve,? b: Which

a: Which helps a monopolist identify its profit-maximizing quantity, the intersection of the MC and MR curves,orthe demand curve,?

b: Which helps the monopolist determine the selling price for this quantity, the intersection of the MC and MR curves,orthe demand curve,?

Problem 2: If your were to go to pharmacy, like CVS to fill a prescription, the pharmacist may offer you the choice of a name brand drug or a generic brand. Why do you think that the generic would be cheaper?

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